TD Cowen Increases Arch Capital Group (NASDAQ:ACGL) Price Target to $138.00

Arch Capital Group (NASDAQ:ACGL) had its price objective lifted by equities research analysts at TD Cowen from $116.00 to $138.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. TD Cowen’s price objective indicates a potential upside of 23.35% from the company’s current price.

Other research analysts also recently issued research reports about the company. Evercore ISI increased their price objective on Arch Capital Group from $100.00 to $104.00 and gave the company an “in-line” rating in a report on Wednesday, July 31st. Royal Bank of Canada raised their price objective on shares of Arch Capital Group from $108.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Barclays assumed coverage on shares of Arch Capital Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Finally, Bank of America reduced their price target on shares of Arch Capital Group from $119.00 to $118.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arch Capital Group presently has an average rating of “Moderate Buy” and a consensus target price of $113.73.

Arch Capital Group Stock Up 0.4 %

Arch Capital Group stock traded up $0.46 during trading on Friday, reaching $111.88. The stock had a trading volume of 879,926 shares, compared to its average volume of 1,604,646. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. Arch Capital Group has a 52-week low of $72.85 and a 52-week high of $114.69. The stock has a market cap of $42.07 billion, a PE ratio of 8.83, a P/E/G ratio of 2.07 and a beta of 0.60. The business has a 50 day moving average price of $103.53 and a 200 day moving average price of $98.62.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.36. The business had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.92 EPS. On average, analysts predict that Arch Capital Group will post 9.01 EPS for the current year.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the transaction, the chief financial officer now owns 221,779 shares in the company, valued at approximately $22,723,476.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.20% of the stock is owned by company insiders.

Institutional Trading of Arch Capital Group

Hedge funds have recently modified their holdings of the business. Capital International Investors grew its holdings in Arch Capital Group by 61.1% during the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after acquiring an additional 1,560,173 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Arch Capital Group by 61.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock worth $237,017,000 after purchasing an additional 1,216,080 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Arch Capital Group by 11.4% in the 1st quarter. Principal Financial Group Inc. now owns 6,800,236 shares of the insurance provider’s stock valued at $628,614,000 after purchasing an additional 693,608 shares in the last quarter. Gladstone Capital Management LLP boosted its holdings in Arch Capital Group by 52.8% during the fourth quarter. Gladstone Capital Management LLP now owns 1,385,307 shares of the insurance provider’s stock worth $102,887,000 after buying an additional 478,570 shares in the last quarter. Finally, Brandes Investment Partners LP purchased a new stake in Arch Capital Group during the second quarter worth about $48,119,000. 89.07% of the stock is owned by institutional investors and hedge funds.

About Arch Capital Group

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.